Watch List notes:

(x) National Bank of Scotland Limited, specimen £20, 1 November 1957, serial number A 000-000, red, pale orange and green, arms low left, value at centre and low right, Dandie and Alexander signatures, reverse red, the Forth Bridge, ((Pick 263s, PMS NA69s, Douglas 40-2), red SPECIMEN overprint, three small punch holes, in PMG holder 66EPQ, Gem Uncirculated. Top grade on PMG Population Report. Scarce.

Estimate: £300 - £400